Abstract
Sport is a widely used as a vehicle for promoting business. Global brands invest tens of millions of euros in high performance athletes, top teams, and popular sporting events. Studies have also shown the potentiality of sport in the business context. However, relatively few studies have focused on the interaction of business and sport from a value-creation perspective. Knowledge focusing on value creation within and through sport is scattered throughout literature and a systematic understanding of how value creation manifests itself in a business context is lacking. Using a systematic literature review and inductive analysis of 44 empirical studies, the article presents six identified topics that represent the various angles to value creation in the nexus between sport and business. The topics are 1) the many shades of value, 2) brands and sponsorship as value-creators, 3) the value of CSR in and through sport, 4) sport as a network and platform, 5) sport for developing organisations internally, and 6) value congruence and identification. The article contributes to both business management and sports management. The article proposes theoretical and managerial implications and identifies avenues for further research.
Highlights
Research on the topic has shown that sponsorship announcements can have a positive effect on a firm’s share price [3] [4] [5] and sponsorship has an impact on the different antecedents of brand equity, such as corporate image, brand image, brand awareness, and brand personality [6]
Firms either expect direct business benefits such as increased brand equity and sales or they indirectly use sport as a platform to demonstrate their involvement in corporate social responsibility (CSR) [8] [9]
Using a systematic review of literature, this study has explored and analysed value creation in the nexus of sport and business
Summary
Roger Federer (tennis), LeBron James (basketball), and Cristiano Ronaldo (soccer) were the three most valuable athletes in terms of endorsements 2017. The English Premier League announced that it has earned over 5.1 billion pounds for selling the television rights to the 2016/17, 2017/18, and 2018/19 seasons [2]. It is not surprising that brands and firms all over the world invest big amounts of money in high performance athletes, top teams, and popular sporting events. Global sponsorship revenue has almost doubled within the last ten years from 37.9 (2007) to 60.2 (2016) billion dollars [7]. Firms either expect direct business benefits such as increased brand equity and sales or they indirectly use sport as a platform to demonstrate their involvement in corporate social responsibility (CSR) [8] [9]
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